Ben Franklin Half Dollar

More Views

Ben Franklin Half Dollar

Silver Content – 0.36169 oz.

Gross Weight – 12.50 g

Composition – 90% silver, 10% copper

Coin Diameter – 30.6 mm

Mint Dates – 1948-1963

Description

Details

OverviewThe Benjamin Franklin half dollar coin was minted from 1948-1963. After the assassination of President John F. Kennedy, Congress passed a bill replacing the Franklin half dollar with the Kennedy half dollar in February 1964, nine years before the design would normally have been up for change.Many Franklin half dollars were melted for their silver after 1964, when the silver’s intrinsic value exceeded the face value.

DesignBenjamin Franklin is on the obverse (front) and the Liberty Bell on the reverse. A small eagle right of the bell was necessitated by law, though Franklin had opposed the selection of the eagle as the U.S. national symbol, arguing that the wild turkey is a “more noble bird.”

MintingAbout 510 million Franklin half dollars were minted from 1948-1963. Coins without a mint mark were minted in Philadelphia, those with a “D” in Denver, and those with an “S” in San Francisco. If the piece has a mint mark, it is on the reverse, above the bell yoke. Engraver John R. Sinnock’s initials are at Franklin’s shoulder on the obverse.

Augusta does not provide legal, tax, or investment advice. The Augusta® Depository Gold IRA is a self-directed IRA containing physical precious metals administered by a third-party custodian and stored in a non-government depository storage facility where investors can make an appointment to see their precious metals. The Augusta® Home Delivery Gold IRA is a self-directed physical precious metals IRA delivered to your home. Some investors choose to store IRS-approved American Eagle gold or silver in an IRA in their homes. However, it is wiser to store all metals in a safe deposit box at a U.S. bank. If investors sidestep rules or mishandle account assets (e.g., setting up the IRA improperly, engaging in a prohibited transaction, such as withdrawing metals before retirement to use for any other purpose, etc.), or if it is determined that home delivery or home or bank safe deposit box storage are not permitted by the IRS, the investor could lose tax-exempt status and have to pay taxes and penalties. There is no clear IRS guidance on the legality of the home delivery IRA structure or home or safe deposit box storage, and the IRS is under no obligation to issue guidance on whether home or bank safe deposit storage satisfies IRS requirements and may, at any time, audit an IRA, declare that home or bank safe deposit box storage does not satisfy IRS requirements, and impose taxes and penalties on the IRA owner. It is important to consult your own legal and financial advisors before opening a home delivery IRA from Augusta, and then work with your advisors to decide where to store your precious metals. As with any investment, past performance might not predict future returns. The price of precious metals fluctuates over time and investors might lose money.

Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.